ChargePoint Holdings, Inc. (NYSE:CHPT) CFO Mansi Khetani Sells 22,038 Shares

ChargePoint Holdings, Inc. (NYSE:CHPT - Get Free Report) CFO Mansi Khetani sold 22,038 shares of ChargePoint stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $1.14, for a total value of $25,123.32. Following the sale, the chief financial officer now owns 1,230,305 shares of the company's stock, valued at approximately $1,402,547.70. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

ChargePoint Stock Down 8.9 %

Shares of ChargePoint stock traded down $0.11 on Monday, reaching $1.13. The stock had a trading volume of 25,534,674 shares, compared to its average volume of 13,939,353. ChargePoint Holdings, Inc. has a 1 year low of $1.05 and a 1 year high of $2.68. The company has a 50 day moving average price of $1.23 and a 200 day moving average price of $1.52. The company has a quick ratio of 1.32, a current ratio of 1.94 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $499.85 million, a P/E ratio of -1.53 and a beta of 1.69.

Institutional Investors Weigh In On ChargePoint

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHPT. CIBC Asset Management Inc boosted its holdings in ChargePoint by 50.7% in the second quarter. CIBC Asset Management Inc now owns 17,145 shares of the company's stock worth $26,000 after acquiring an additional 5,770 shares in the last quarter. Delap Wealth Advisory LLC purchased a new stake in ChargePoint during the 2nd quarter worth approximately $31,000. Financial Advocates Investment Management purchased a new stake in ChargePoint during the 3rd quarter worth approximately $29,000. Perennial Investment Advisors LLC increased its stake in ChargePoint by 74.4% during the 2nd quarter. Perennial Investment Advisors LLC now owns 24,380 shares of the company's stock valued at $37,000 after purchasing an additional 10,400 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of ChargePoint by 152.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,462 shares of the company's stock worth $38,000 after buying an additional 15,358 shares during the last quarter. 37.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of ChargePoint from $1.50 to $1.25 and set a "sell" rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. cut ChargePoint from an "overweight" rating to an "underweight" rating in a research note on Thursday, October 3rd. Stifel Nicolaus reduced their price objective on ChargePoint from $3.00 to $2.00 and set a "hold" rating on the stock in a report on Wednesday, October 30th. Evercore ISI lowered their target price on ChargePoint from $6.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. Finally, Needham & Company LLC restated a "hold" rating on shares of ChargePoint in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $2.46.

ChargePoint Company Profile

ChargePoint Holdings, Inc, together with its subsidiaries, provides electric vehicle (EV) charging networks and charging solutions in the North America and Europe. The company serves commercial, such as retail, workplace, hospitality, parking, recreation, municipal, education, and highway fast charge; fleet, which include delivery, take home, logistics, motor pool, transit, and shared mobility; and residential including single family homes and multi-family apartments and condominiums customers.

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